The building, which was formerly occupied by the bank itself and other companies under the Santander Group, comprises nine floors above ground and five underground with a combined total area of 7,240 sq m.

The asset also benefits from excellent access to the main areas of the city and a vast transport network due to its strategic location.

Alberto Henriques, Senior Analyst in the Capital Markets Department at Savills Portugal, commented: “We are really pleased to have begun the year with the completion of this transaction which has had a substantial impact on Lisbon’s office market. The city continues to boast strong demand from a range of occupiers who want grade A offices at a time of scarce stock availability. This trend has contributed to international investors keeping the city on their radar and also is motivation for new investors to enter the market – as was the case with Avignon Capital.”